The dollar extended gains on Thursday following the U.S. Federal Reserve signal on Wednesday that it would end emergency bond-buying and raise interest rates sooner than expected.

Read full article at https://investogist.com/forex-dollar-keeps-climbing-after-feds-surprise/

The Fed’s monetary policy committee announced today that it raised two administrative interest rates “in order to keep the federal funds rate well within the target range and to support smooth functioning in money markets.”

It raised the interest it pays the banks on required and excess reserves, the IOER, to 0.15% (from 0.1%). And it raised the offering rate for overnight reverse repos (RRP) to 0.05% (from 0.0%).
https://wolfstreet.com/2021/06/16/fed-had-discussion-on-tapering-pulls-rate-hikes-closer-raises-interest-rates-on-reserves-ioer-overnight-reverse-repos/